Investor Presentation

DOC:SEC:1959/2026-27/220 September 18, 2026 National Stock Exchange of India Limited BSE Limited Exchange Plaza, 5th Floor, Plot No. C/1, Phiroze Jeejeebhoy Towers, G- Block, Bandra – Kurla Complex, Dalal Street, Bandra (East), Mumbai – 400 001 Mumbai – 400 051 SCRIP CODE: 500084 SCRIP CODE: CESC Dear Sir/ Madam, Sub: Investor Presentation Further to our earlier communication vide letter no: DOC:SEC:1955/2026-27/216 dated September 10, 2026 and pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find enclosed a copy of the presentation to be made by the Company to its Investors. The said Investor Presentation will also be available on the Company’s website at www.cesc.co.in. Kindly take the above information into your record and oblige. Thanking you. Yours faithfully, For CESC Limited Jagdish Patra Company Secretary & Compliance Officer An Integrated Utility Transitioning to a GREENER TOMORROW CESC Limited Corporate Presentation – September 2026 RPSG Group: Key Businesses at a Glance India’s first fully integrated utility company, Aiming for medium-term 10 GW RE capacity. 4.8 serving 4.9 Mn Consumers across 7 locations. GWp contractual capacity LSG is a premier IPL franchisee focused on A global leader in BPS- delivering transformative, nurturing the future of Indian cricket. AI-powered solutions at speed and scale. Too Yumm, a flavorful & better-for-you snacking A Global Specialty Chemical company and India’s Largest Carbon Black player. Innovating in the personal care category through new-age brands Naturali and Within Beauty. An entertainment Company with IP of 180k+ Eastern India’s definitive destination for luxury, songs, 70+ films, 10k+ hrs TV serials & 55+ web style, and curated lifestyle experiences. series. Vision To be a responsive conglomerate driven by Delivering sharp journalism, bold storytelling, India’s finest gourmet and multi-format organized retailer with varied assortments. and immersive experiences across print, digital, sustainable growth, efficiency and innovation and video. ~US$5 Bn* ~US$900 Mn* >US$8 Bn* 1.1 million+ Group Turnover (*Figures as of FY26) EBITDA Asset Base Shareholders CESC at a Glance Unlocking value through integrated energy dominance Distribution Generation (Thermal) 4.9 2,140 Mn + Generation capacity customers across 7 geographies 4.9 GW+ peak demand 78% tied to own distribution 21,000 MU annual sales 5 thermal plants across India spanning across 1,454 Sq.KM area Renewables Solar Mfg 4.8 3 GWp + GW Solar Cell & Module mfg. Contractual Capacity by 2027 1.8 GWp Operational* 100 acres Land secured in UP 10 GW Medium-term vision Thermal Power Distribution Renewables Revenue EBITDA PAT (*includes 1.4 GWp solar assets under acquisition) 18,927 4,707 1,618 FY 26 · ₹ Cr (consolidated) ▲ 9% YoY ▲ 9% YoY ▲ 13% YoY Integrated Moat: Delivering Value Across Power Chain A 125 years-old integrated utility, entering its strongest growth phase — distribution-led, renewables-fueled, and balance-sheet ready Distribution Generation Reliable base-load capacity with strong PLF Strong and established position across all circles Kolkata - CESC Noida - NPCL Chandigarh - CPDL Chandrapur (TPP) Budge Budge (TPP) Haldia (TPP) 567 Sq. Km 335 Sq. Km 114 Sq. Km 600 MW 750 MW 600 MW 37 L consumer 2.2 L consumer 2.4 L consumer Southern SGS (TPP) Crescent (TPP) Distribution Franchisee 135 MW 40 MW (Rajasthan & Malegaon) 438 Sq. Km 6.8 L consumer Value Chain Operational 1.8 GWp 3 GW integrated solar cells by 2027 Contractual Capacity: 4.8 GWp + 2.2 GWh BESS (Solar 3.5 GWp , Wind 1.3 GW & BESS 2.2 GWh) Renewables Manufacturing Strong Organic Momentum, Strategic Expansions Backward integration in Solar Cells & Modules Entering Growth Phase: Vision 2030 Where CESC will be in five years — and how we get there FY25 → 2030 · PAT doubling trajectory & +400 bps ROE expansion Doubling of Profit . 1,618 R 1,429 +400 Bps 12.6 11.7 ROE 400 RoE Expansion FY25 FY26 2030 (E) Growth in Distribution Circles – Renewables Contractual Capacity + Improved performance in Higher Capex + Reduced T&D Losses Future Bid Wins Distribution Franchisee Rising Cashflows Backward Integration into Solar Cell Sectoral Tailwinds Reduction in Regulatory Assets & Modules Building Blocks – Growth Vision 2030 Structural levers — across distribution, generation, renewables and manufacturing — engineered to compound earnings Higher Distribution Investment Planned 10 GW Renewables Improved Franchisee Performance Continuous investment in all the distribution licenses ~4.8 GWp contractual capacity* and further Reducing T&D losses across all DFs to enhance regulated equity and capacity build-out scaling to 10 GW Taking steps to achieve breakeven in Malegaon DF Investment ₹ 6,000 Cr Investment ₹ 26,000 + Cr Incremental PAT ₹ 250 Cr * including acquired asset 3 GW Cell & Module Eco-system Cost Optimization Distribution Privatization Savings in fuel and power procurement cost to Setting up 3 GW Solar Cell line with Leveraging proven expertise to scale across new enable reduction in regulatory assets attractive payback of 5 years opportunities Outcome Higher Cash Profits Investment ~ ₹ 3,000 Cr Outcome Expansion of Portfolio Power Demand & Reform Unlocking Sector Potential The macro-opportunity for CESC is driven by India's position as the world's fastest-growing major energy market India's per-capita electricity consumption (~1,538 kWh) is well below the global average 900 GW ~Rs. 9.15 tn transmission capex by 2032E, provides growth levers to power utilities players GW Renewable Generation capacity push - India targets to achieve 60% non-fossil capacity by 2035 Storage acceleration- ISTS waiver and Rs. 540 bn BESS outlay to support 208 GWh storage need by 2030 India per-capita consumption (kWh) vs global average ~97 GW coal pipeline: backing grid reliability amid rising demand & renewable intermittency ~12,712 7,107 ~3,300 1,538 Regulatory tailwinds: RPO, VGF, TBCB, coal linkage & green corridors boost supply visibility Global Avg India China USA Source: MNRE, CEA, Macquarie & Statista Reforms creating a $200B opportunity Market estimates privatization as the primary lever for fiscal recovery and efficiency in the power sector Fiscal Impact 11 states could cut combined fiscal deficit : 3.5%→3.0% of GSDP by privatizing DISCOMs Operational Gap Private utilities maintain AT&C losses 8 percentage points lower than public utilities Current Momentum Nine states, like Uttar Pradesh, are now "immediately suitable" for full privatization Reform Drivers Tightening ACS-ARR gap to 6 paise/unit signals stability for new private entrants Source: SBI Capital research Why this matters for CESC Track record — CESC's proven ability to compress losses (e.g. Kolkata 8.4%→6.11% over FY21 to FY26) makes it a preferred bidder for upcoming privatisations Generation Assets — Best-in-class thermal efficiency + growing renewable portfolio Multiple entry pathways — Ability to successfully manage Full license like (Kolkata, NPCL, CPDL) and input-based DF (Maharashtra/Rajasthan) creates new distribution business entry paths Distribution Dominance Consumer Reach The Cash-Generating Core 4.9 million consumers High-yield license areas with structural demand tailwinds — funding the growth with regulated, annuity-like cash flows Distribution Franchisee positive Value Creation Roadmap Kolkata Noida Chandigarh demand visibility, regulatory unlock future-ready infrastructure Portfolio across 7 geographies The macro-opportunity for CESC is driven by India's position as the world’s one of the fastest-growing major energy market Operating Customer Base Peak Distribution Assets Units sold T&D loss Revenue (FY26) model (Lakhs) demand CESC Kolkata Distribution Licensee 37 2,700+ MW 11,990 MU 6.11% ₹ 9,939 Cr Integrated utility since 1899 — efficient operation & (integrated) superior customer service 567 km² Noida Power (NPCL) Distribution Licensee 2.2 848+ MW 3 [Showing first 8,000 characters — download PDF for full document]